Nature of Ardent Leisure

Ardent Leisure trades on the Australian Stock Exchange under the AAD ticker. AAD is a stapled security which comprises one unit in Ardent Leisure Trust ("Trust" or "ALT"), stapled to one share in Ardent Leisure Limited ("the Company" or "ALL").

The Trust is a registered managed investment scheme under the Corporations Act.

The Company leases assets from the Trust and carries on operational business activities.

Ardent Leisure Management Limited ("ALML"), a wholly owned subsidiary of the Company, is the Responsible Entity of the Trust.

Distributions

AAD security holders have historically been paid distributions each half year by the Trust. The Company has never paid a dividend.

The tax components of distributions paid by the Trust, which security holders require to complete their tax returns are advised in an annual tax statement and are also provided in the Distributions section on the MIT Statement and Tax Information page on this website.

Distribution Reinvestment Plan ("DRP")

The DRP allows security holders to have their distributions reinvested in additional securities in Ardent Leisure, rather than having their distributions paid to them. The DRP price for new securities is currently calculated at a 2.0% discount to the average of the last sale price per AAD Security recorded on the ASX during the five business days immediately following the end of the income period to which the distribution relates.

For further information on the DRP, please contact the Security Registry on 1300 720 560, if you wish to participate.

Mandatory Direct Credit

Ardent Leisure operates mandatory direct credit of distributions to Australian bank or cash management accounts. No cheques are issued for distributions and investors will be unable to claim unpaid distributions unless valid direct credit instructions are supplied.

Capital Gains Tax

For capital gains tax ("CGT") purposes, a unit in the Trust and a share in the Company are two separate assets. If security holders dispose of their Ardent Leisure investment, they will need to prepare separate CGT calculations for each of their investments in the Trust and the Company.

The table provided in the Allocation of Cost Base section on the MIT Statement and Tax Information page on this website will help security holders split their Ardent Leisure Stapled Security acquisition cost and sales proceeds between a unit in the Trust and a Share in the Company.